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Dublin and EU reject call to scrap Northern Ireland Brexit protocol

Ireland’s foreign minister dismisses request by DUP in escalating row over trade barriers in Irish Sea
The Brexit agreement’s Northern Ireland protocol will not be scrapped, the Irish government and the EU have said in an escalating row over the new trade barriers down the Irish Sea.
The Democratic Unionist party leader, Arlene Foster, has called for the measure designed to keep the Irish land border open to be replaced, but Dublin is focused on easing problems with the post-Brexit trade deal that have caused disruption at Irish ports.
The Irish foreign minister, Simon Coveney, told BBC Ulster “there is not going to be very dramatic change”, in the face of calls by the DUP for the protocol to be urgently axed.
“We want the protocol to function in a way that works for everyone, north and south, on the island of Ireland,” he said.
Foster hit back on the same programme, accusing Coveney of being “completely tone deaf to the concerns of unionism”.
On Wednesday the European commission vice-president, Maroš Šefčovič, said the UK and EU had a “shared commitment to the proper implementation of the protocol”.
He tweeted that this had been reiterated at a meeting with Michael Gove, Foster and Northern Ireland’s deputy first minister, Michelle O’Neill, on Wednesday night and they had agreed that “constructive solution-driven cooperation” was “essential to addressing outstanding issues”.
Gove and Šefčovič will meet again next week. It is understood a specialised committee dedicated to the working out of the protocol will be established in the coming days to move those talkson, with a meeting of the UK-EU joint committee chaired by Gove and Šefčovič pencilled in for mid March.
The effort to address the issues caused by the implementation of the protocol has been expedited by the aborted attempt by the EU to trigger article 16 of the protocol, which allows for the suspension of the arrangements in extreme circumstances.
Boris Johnson and Gove have capitalised on the EU’s embarrassment over the move and threatened to trigger article 16 themselves in parliament and in a letter to Šefčovič on Tuesday.
The UK is now demanding a two-year extension to the Brexit grace period for checks on trade but the EU made it clear last night it regarded article 16 as an ultimate on which it would not capitulate.
Efforts to de-escalate the row will do little to assuage the DUP’s opposition to the protocol.
Two days ago Foster, who is also Northern Ireland’s first minister, launched an official campaign to get the arrangements scrapped. At the same time she announced the party would be withdrawing from all engagements with the Irish government on matters relating to the protocol.
While many have considered the move a reflection of the binary politics that often define Northern Ireland, consumers and businesses agree the protocol has caused upset across all communities.
One shopper who contacted the Guardian on Wednesday said he had been unable to order goods, as he used to, from John Lewis or Currys.
“It feels like we are being left behind, a victim of a Brexit we didn’t vote for in Northern Ireland. I’m not angry about any of this, I’m just worried that things are going to get harder and more expensive at a time when many people are already struggling,” he said.
“I know the DUP (the people who voted for Brexit) are now upset at the outcome and are wanting to do something to ease these terrible supply issues, but it all feels a little too late.”
The MLA for Belfast South, Matthew O’Toole ,of the Social Democratic and Labour party, criticised the DUP’s approach.
“They are trying to amplify the issue of the Irish Sea border in a disembodied way, as if the Irish border existed in a sui generis way and could be got rid of without diplomatic consequence, political or economic consequence,” he said.
source: Lisa O'Carroll
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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